Blog | Corinne Cain

Adequate Valuation Narrative

by admin on Jan.19, 2012, under Education

What is needed to explain why the value is the value in a competently prepared appraisal?

Personal property appraisers must demonstrate by explanation and when possible by photograph why the sale of another similar item supports the value of another (in their report, referred to as the subject property). Often comparable sales are named and then the appraiser clarifies a citation by explaining how the subject property compares to the “comparable sale example”. A sale could also be introduced that superficially appears to be similar in character, but in reality, is not due to a difference in the property’s characteristics or due to a difference in market level investigated.

compares by maker (same or different)
compares by medium (same, similar or different)
compares by dimensions (same, similar or different)
compares by subject matter (same, similar or different)
compares by style of execution (same, similar or different)
compares by year produced (same, similar or different)
compares by condition (same, similar or different)
compares by qualitative ranking (same, similar or different)

Qualitative ranking must be addressed, as painter X could paint a landscape, oil on canvas, the same size, in the same style that is in the same physical condition, in the same year as the subject property but one painting is consistent with the best landscapes produced by this artist, while another is strictly uninspired compositionally. Numerically one effort is a “10″, while another is limited to a “5″. A knowledgeable collector will pay more for a “10″, than a “5″. The value of the artist’s best work outstrips an example that is relatively mediocre.

The appraiser’s goal is to create a flow chart (in words and when possible, visually) to assist with the recognition that the value determination is logical and supportable and aligned with the date of valuation and the intended use of the valuation.

The day of the “trust me” document has been over for a very long time.

Corinne Cain, ASA
Accredited Senior Appraiser
Personal Property/ Fine Arts & American Indian Arts

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Webinar Appraising American Indian Fine Arts

by admin on Aug.29, 2011, under Education, Recent Seminars

Dubbed “World Class” !!! 70 attendees indicated its content was well worth the time and money

Looking forward to creating a Power Point presentation titled “Purchasing American Indian Jewelry Intelligently“.

Corinne Cain, ASA
Accredited Senior Appraiser
American Society of Appraisers
Personal Property/ Fine Arts & American Indian Arts

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Splendid Fine Art Appraiser’s Handbook !!!

by admin on Jul.18, 2011, under Education, Publications

This understated publication spells out succinctly what is expected from a competent Fine Art appraiser.

art handling, naming recommended tools
condition issues — what to look for
fine art terminology used in the descriptive process

Mature collectors can review this treatise to learn if the appraisals they’ve obtained in the past were properly carried out. Curatorial people might want to be acquainted with what proper fine art appraisals are expected to contain. Insurance company representatives may want to be sure high ticket artworks have been properly investigated.

www.JudithVance.com has copies for sale, as does Fraser Publishing based in New Hampshire

Judith is a fellow Accredited Senior Appraiser with a designation in Fine Arts and a very fine member of the appraiser community.

Price is $45

Corinne Cain, ASA Accredited Senior Appraiser, Fine Arts & American Indian Arts www.SavvyCollector.com

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Introduction to the Appraisal of American Indian Fine Art Webinar

by admin on Jul.09, 2011, under Uncategorized

Who: Veteran art appraiser Corinne Cain, who has more than 35 years of experience in the industry

What: Hour-long webinar with a Powerpoint visual-aid covering the basics of AI Fine Art appraisal

When: July 21, 2011; 3-4 PM EST

How: Register through the American Society of Appraiser’s website and log on on the 21st and see the webinar live!

From painted hides to carved sculptures to blown glass, the world of American Indian Fine art constitutes much more than meets-the-eye. With the array of intricate detail applied by such artists as Oscar Howe, Merina Lujan (Pop Chalee) and Preston Singletary and the abstract techniques developed by George Morrison and his contemporaries, how can one begin to place a price on these distinctly unique, yet equally wonderful, works of art?

Corinne Cain is here to help answer this question. For only $45 (applies to both members and non-members of the American Society of Appraisers), you can download and enjoy an hour-long, 78-slide Powerpoint and webinar (note: audio is only available live) presented by veteran art appraiser Corinne Cain, touching on the basics of the appraisal of American Indian Fine Art. Having personally trained several other appraisers and co-authoring the American Society of Appraisers AI appraisal exam, Corinne Cain’s appraisal abilities have been widely recognized both within the American Society of Appraisers and elsewhere.

Some of the many topics Corinne will be discussing include:

• The origin of AI Fine Arts (painted buffalo, deerskin hides, ceremonial shirts, etc.)

• How these developed into contemporary forms of AI art such as painting, drawing and sculpture (referencing specific, non-AI influences).

• Styles and biographies of prominent, AI artists including visual examples of their work.

• AI Fine Art Market Levels including websites for corresponding galleries and organizations

• Museums hosting significant AI Fine Art collections

• Extensive, Annotated Bibliographies (available for download) including both general AI Fine Art information as well as books/articles on specific artists

The webinar will take place on July 21, 2011 from 3-4 PM EST. Sign-up today through the American Society of Appraisers’ website: http://www.appraisers.org/Education/ViewClass.aspx?ClassID=272

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I’m Sorry !!!

by admin on Apr.27, 2011, under Education

I’m sorry the woman who called today purchased a painting years ago for $50,000.

I’m sorry she didn’t know this artist’s work had been hyped aggressively by the seller.

I’m sorry she didn’t hire an appraiser BEFORE making the purchase, instead of a couple of years AFTER the sale.

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The “Good Old Days” ???

by admin on Jan.25, 2011, under Education

A fine couple brought paintings to my office to learn how their values had changed, since having been valued in 1988. They brought the original appraisal with them.

I am not sure how the original appraiser would defend a value of $2,800 for an unsigned painting.

Another painting had been linked to a generous value. It was likewise unsigned, but the appraiser had misinterpretted some painted grasses as “E.E.”

Still another painting that was signed, its signature was misread. Secondarily, the artist identified by the appraiser was not a painter.

The two best paintings were watercolor on paper. I wish the appraiser had campaigned for the substitution of archival framing materials for the highly acidic boards used, resident now for an extra 23 years.

The couple volunteered “The appraiser charged a percentage of value for their fee”.

Initially egos were stroked by the lofty values. Now the couple is elderly, expecting perhaps values could have increased from values identified over twenty ago, their hopes were somewhat dashed.

Had they also paid insurance premiums based on these inappropriate values for over twenty years? I did not have the courage to ask.

Professional appraisers do not currently charge for their services based on a percentage of the value of the property they appraise.

Corinne Cain, ASA Accredited Senior Appraiser/ Fine Arts as well as American Indian Arts

www.appraisers.org American Society of Appraisers website or 1800 ASA VALU 1 800 272 8258

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Inferior vs Superior Fannie Nampeyo

by admin on Oct.28, 2010, under Education

Had I not hefted this jar and touched its interior walls, a value would have been named that was approximately twice too high. Fannie Nampeyo’s best work has consistently thin walls with a bottom proportional in thickness. Also, upon close inspection slip application was relatively ragged especially in the red area, compared to the artist’s best work.

The above dramatizes an appraiser’s reluctance to gauge value based on photography. In this case photographs would not yield characteristics with critical value consequences.

Appraisers want to be accurate, to provide good and reliable service.

When possible, allow your appraiser to view the property in person.

Corinne Cain, ASA
Accredited Senior Appraiser
Personal Property/ Fine Arts & American Indian Arts

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What is Qualitative Ranking ???

by admin on Oct.19, 2010, under Education, Uncategorized

Two paintings are by the same artist, roughly the same size, in the same condition, depicting the same subject matter and painted within a year of each other. Why is one valued 1 1/2 times the value of the other ??? This is also true of pottery or of any type of hand-made item you can think of.

Artist’s products vary qualitatively. A sharp appraiser will be able to recognize the item that is more successful in its execution, as will an astute collector, execution being technical as well as its intention and balance.

Corinne Cain, ASA
Personal Property/ Fine Arts & American Indian Arts

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Life in the appraiser lane is not dull !

by admin on Sep.24, 2010, under Education, Uncategorized

Fake art catches most of the news coverage, but inferior art is a more subtle accelerating problem.

Men/ Women are not machines, so their artistic output is not uniform, even amongst professional artists, resulting in superior art and inferior art.

What is the problem side to inferior art? Besides being a visual negative, it has a tax consequence. When the artist or the collector dies, a value for all personal property is determined by the appraiser, linked to the artist’s or collector’s date of death. Once the value of one’s real and personal property exceeds $3.5 million, a tax is levied on the value in excess of $3.5 million. To date in 2010 Congress has not identified the value barrier over which a tax will be applied.

Selling inferior art to realize funds when the economy is rocky is extremely problematic.

As citizens fashion second and third careers, as we tend to live longer and healthier, more of us are electing to become artists and/ or crafts people. As our skill sets grow, less successful attempts are parked on friends and family. This transitional art (on its way to becoming superior) then occupies walls in homes that would otherwise be populated by superior artworks. Worse, after viewing television programs where a seemingly innocent work of art is declared wildly valuable, unrealistic expectations for the value of artworks become more commonplace.

Enter, the art appraiser, who must then identify artworks as either superior or qualitatively challenged. The appraiser is quite smart if the assessment equates to beaucoup value or underskilled, if the pronouncement is negative.

Welcome to life in the appraiser lane and the negative consequences of the rapidly growing supply of inferior art worldwide.

Corinne Cain, ASA
Accredited Senior Appraiser
Personal Property/ Fine Arts as well as American Indian Arts

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Corinne Cain

Arts Appraiser